IDB to finance Iraqi infrastructure with $500m – president

Ahmed Mohamed Ali al-Madani, the president of Islamic Development Bank (IDB), said the bank is ready to finance Iraq infrastructure with $500 million,

The president said this in Kuwait on Wednesday, according to Reuters.

Donors and investors have gathered in Kuwait to discuss efforts to rebuild Iraq’s economy and infrastructure as it emerges from a devastating conflict with Islamic State militants who seized almost a third of the country.

Islamic Development Bank is the largest development organisation in the Muslim world.